Delancey Street Associates (DSA), a joint venture of L+M Development Partners, BFC Partners, Taconic Investment Partners, the Prusik Group and the Goldman Sachs Urban Investment Group, have officially launched leasing for 98 units at The Essex. More than a quarter of the residences have already pre-leased due to high demand, and move-ins began in December. Douglas Elliman New Development Marketing is exclusively handling leasing for The Essex from an onsite leasing office, which opened this week. The 26-story tower is the tallest building in the nine-building Essex Crossing Development on Manhattan’s Lower East Side. The Essex is located at 125 Delancey Street, the corner of Essex and Delancey streets, and houses a dynamic array of amenities unmatched at any development in New York City, including an adjacent entrance to the F/M/J/Z subway lines, a 14-screen Regal Cinemas, the new home of the historic Essex Street Market and phase one of The Market Line, an expansive, bazaar-like marketplace spanning 700’ along Broome Street.

"Essex Crossing is well on its way to being one of New York City's most exciting places to live, and residents of The Essex will truly be right at the heart of the action," said Isaac Henderson, Project Manager at Delancey Street Associates and a Director at L+M Development Partners. "While The Essex's unimpeded skyline views already make it a unique product in the neighborhood, its amenities – including the new Essex Street Market and The Market Line, the 14-screen Regal Essex Crossing and four subway lines – truly set it apart from other projects on the market across the city. That our units are already a quarter pre-leased speaks volumes about the building's appeal."

Residences at The Essex range in size from studios to three-bedroom units with pricing starting from $4,295. Residences feature an elevated level of design and modern conveniences, including engineered oak wood flooring and double pane windows with heights of up to 11 feet. Kitchens include European stainless-steel appliances and quartz countertops, and bathrooms feature Grohe fixtures. Finally, each unit includes with a Bosch washer and dryer. The Essex was designed by Handel Architects.Amenities exclusive to residents include a 26th-floor rooftop terrace with a striking architectural façade, attended lobby concierge, a social lounge with billiards, TV and seating, a library lounge, a private meeting room, a children’s playroom, a fitness center supplied with Peloton bikes and top-of-the-line workout equipment, a 6th-floor garden terrace with hammocks, grills, dining areas, and a quarter-acre urban farm, with produce grown there available for building residents.

"The overwhelmingly positive response we have received at The Essex speaks to the demand for rentals of this caliber," said JR Sena, Senior Marketing Director at Douglas Elliman New Development Marketing. "Spectacular amenities, unprecedented views from this LES location, striking architecture and residences thoughtfully designed to capture it all, define its remarkable presence in the marketplace. The Essex further solidifies Essex Crossing as the newest and most dynamic destination in New York City."

With roughly 90% of Essex Crossing now open or under construction and 90% of its financing secured, the 1.9 million square foot project coming to life with its first residents, with many more to come in 2019. Seven of its nine sites are now open or under construction. Essex Crossing comprises 1.9 million square feet of residential, commercial, and community space. The nine sites on six acres had sat mostly vacant since 1967 and represent one of the most significant urban renewal developments in the history of New York City. The overall project, which will be more than 90 percent open by 2021, will include 1,079 units of housing along with 350,000 square feet of the first Class A office space on the Lower East Side. The full project is expected to be finished by 2024.

Images via We Are Visuals/QuallsBenson

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